Santelli's planted rant

[metalman]

Re: Santelli's planted rant

Weak dollar not good for the common guy? Yes, true but its the only hope the common guy has left because the common guy has so much debt he can't service it, so his only hope is price & wage inflation together. Then it will be party time like the late 70s when everyone screwed their creditor and paid off their mortgage from 10 years earlier with cheap money. They were poorer but as long as that raise came in at 12% it didn't matter to him that inflation came in at 14%. It just seemed to feel good.

Stealthy... the trick of course is to bring on the wage inflation and the structural underpinnings of the US economy don't exist like they did then - therefore risk of balance of payments crisis when devaluing the dollar this go round.

a man who's paying attention!

[ThePythonicCow]

Re: Santelli's planted rant

... therefore risk of balance of payments crisis when devaluing the dollar this go round.

That risk might (or might not?) be mitigated by the globalization of this financial damage to other countries as well, rendering them too weak to cause a balance of payments crisis.

In other words, the U.S. might pull off one more export led recovery, thanks to its one remaining major export, that being financial corruption.

On the third hand, the whole thing could blow up on us, rather too literally :eek::eek::eek:.

[Slimprofits]

Re: Santelli's planted rant

Look I understand all of that, thanks to Itulip. The point is that Santelli isn't planted. If anyone on that show is, it's Liesman.